Netflix Nabs New Space in HollywoodFriday, January 6, 2017
Netflix Inc. just put another spotlight on its Hollywood real estate romance.
The video streaming company has signed a deal for the full five floors at Cue office building, bringing its total Hollywood footprint to more than 500,000 square feet.
West L.A.-based Hudson Pacific Properties Inc., Cue’s developer, said in a statement Friday that the lease is for nearly 92,000 square feet at the new building that’s part of the historic Sunset Bronson Studios on Sunset Boulevard. Cue is set to open this summer. Terms of the deal were not made available.
Netflix made its first foray into Hollywood last February, when it agreed to lease the 14-story, 200,000-square-foot Icon building, another Hudson project at Sunset Bronson, which was then still under construction. It tacked on another 99,520 feet at Sunset Bronson in September with a deal for stages and production offices.
“With CUE, ICON and the sound stage and production facilities at both Sunset Bronson Studios and nearby Sunset Gower Studios, Hudson is realizing its long-term goal of attracting premier content creators back to Hollywood,” Hudson Chairman Victor J. Coleman said in a statement.
Netflix will be vacating its current home in Beverly Hills, where it occupies a reported 100,000 square feet in Tishman Speyer’s Maple Plaza.